Petrolimex Plans to Import 7.8Mln MT of Refined Oil in 2005

Petrolimex Plans to Import 7.8Mln MT of Refined Oil in 2005

The Vietnam National Petroleum Corporation (Petrolimex) plans to import 7.8 million metric tonnes of petroleum products this year, remaining a dominator in Vietnam’s petroleum market, a corporate official said.

He said the Vietnamese Government assigned Petrolimex to import 7.4 million tonnes in the year.

The State-run Petrolimex expects to sell 7.38 million metric tonnes, he said but still kept silent about the remaining volume.

Being the largest oil importer and retailer in Vietnam with over 60 per cent of market shares, Petrolimex has proposed a pricing mechanism to stabilie the local market and secure certain profits for oil trading companies. This will generate benefits for the Government, enterprises and consumers, he said.

Vietnam now has nine oil importers, all state-run, including Petrolimex. The country plans to import 12.4 million metric tonnes of petroleum products this year.

• (News Feb 1 p2)